Lincoln Electric Holdings Inc

LECO: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$164.00	Cnkhy	Dpynxvls

Lincoln Electric Ends 2022 With Solid Fourth Quarter; Raising Fair Value Estimate

Krzysztof Smalec

Feb 21, 2023

Narrow-moat-rated Lincoln Electric posted solid fourth-quarter results, as its full-year 2022 adjusted EPS of $8.27 beat our estimate by $0.15. After rolling our model forward one year, we’ve increased our fair value estimate to $156 from $148, which reflects our slightly more optimistic near-term revenue growth projections as well as time value of money.

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